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Lack of stock still the key reason for double-digit house price rises

Government data shows the average UK house price increasing by 10 per cent on an annual basis in November.

On a monthly basis, prices went up 1.2 per cent taking the average house price in the UK to £270,708.

The ONS data shows that in England the annual rise was 9.8 per cent, while in Wales it was 12.1 per cent and specifically in London 5.1 per cent.

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